Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 97.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,536 shares of the financial services provider's stock after selling 1,489,587 shares during the quarter. Burgundy Asset Management Ltd.'s holdings in Brookfield Asset Management were worth $1,763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BAM. Truvestments Capital LLC lifted its stake in shares of Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after acquiring an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Brookfield Asset Management in the fourth quarter worth about $32,000. NewEdge Advisors LLC lifted its stake in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after acquiring an additional 325 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Brookfield Asset Management in the fourth quarter worth about $54,000. Finally, Redwood Park Advisors LLC acquired a new position in shares of Brookfield Asset Management in the fourth quarter worth about $64,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BAM. Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Jefferies Financial Group cut their price target on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. CIBC boosted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. BMO Capital Markets boosted their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research note on Thursday, February 13th. Finally, TD Securities boosted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of "Moderate Buy" and an average price target of $59.08.

Brookfield Asset Management Trading Down 0.1%

NYSE:BAM opened at $57.22 on Friday. The firm has a market capitalization of $92.27 billion, a PE ratio of 43.35, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56. The stock has a 50 day moving average of $51.52 and a 200-day moving average of $54.37. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 124.11%.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.

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